A name can help people create a mental model for your product, which helps them to remember and associate your product with a particular job.
Other factors come into play, including how a name sounds, and how distinctive, appropriate, likable, extendable, and protectable it is. But most important is that the name is remembered and understood.
So to choose a memorable name for a product, you can start with the jobs you want people to remember it for.
A good lesson on product naming from the Intercom crew as they described naming their new bot service, operator bot.